Aramco, SLB, and Linde to Build One of the World’s Top Carbon Capture Hubs

Saudi state oil giant Aramco is teaming up with the world’s largest oilfield services provider, SLB, and the world’s largest industrial gases company, Linde, to build a carbon capture and storage (CCS) hub in Saudi Arabia, which will be one of the largest such sites in the world.

The companies on Wednesday said they had signed a shareholders’ agreement to advance the project in Jubail, in Saudi Arabia’s Eastern Province.

Under the terms of the deal, Aramco will hold a 60% equity interest in the CCS hub, with Linde and SLB each taking a 20% stake.

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The CCS hub, whose construction is set to be completed by the end of 2027, is expected to capture and store up to 9 million metric tons of carbon dioxide (CO2) annually.

Capacity could be further expanded in later phases, the shareholders said in a joint statement.

In phase one of the CCS project, the hub will have the capacity to capture CO2 from three Aramco gas plants and other industrial sources. The captured CO2 will be transported through a pipeline network and stored below ground in a saline aquifer sink.

Saudi Arabia has significant geological potential for CO2 storage, Aramco and its partners in the hub say.

The CCS hub would support Aramco’s ambition to achieve net-zero Scope 1 and Scope 2 gas emissions across its wholly-owned operated assets by 2050, as well as its interim target of reducing the carbon intensity of its upstream operations by 15% by 2035, the Saudi oil firm said.

The CCS hub in Jubail also complements Aramco’s blue hydrogen and ammonia program, and aligns with the Kingdom’s net-zero objectives, said the world’s largest oil company by production and market capitalization.

Saudi Arabia has a target to reach net zero by 2060, a decade later than most countries with net-zero goals.

About Aramco

Aramco is one of the world’s leading integrated energy and chemicals companies, driven by a commitment to delivering reliable energy sustainably. Through its vast resources, innovative technologies, and people, Aramco is working to achieve its net-zero ambitions while creating value for its shareholders and stakeholders.